Motorbike sales decline in 2023

By Minh Vu   January 8, 2024 | 05:00 pm PT
Motorbike sales decline in 2023
Vietnamese still buy motorcycles in large numbers. Photo by VnExpress/Ngoc Thanh
Members of the Vietnam Association of Motorcycle Manufacturers sold 2.5 million vehicles in the domestic market last year, down 16.2% from 2022.

Its five members are Honda, Yamaha, Piaggio, Suzuki, and SYM. They sold 634,688 motorcycles in Q1 of last year, 588,926 in Q2, 610,635 in Q3, and 681,963 in Q4.

The Vietnamese motorcycle market also has other brands such as VinFast, Kymco, BMW Motorrad, Ducati, Triumph, Kawasaki, Royal Enfield, Harley-Davidson, KTM and Yadea.

Within Southeast Asia, Vietnam has the highest motorcycle ownership rate at 72.8%, while Singapore has the lowest rate, at 2.4%, according to Seasia Stats, an integral part of the platform that provides statistical data and infographics.

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